With the Senate parliamentarian's approval, Senate Democrats will soon be able to wrangle one of their most significant pieces of legislation through the Senate by bypassing the 60-vote threshold needed to overcome a filibuster. Democrats had previously been fretful that the parliamentarian might shoot down some of their drug pricing reform measures in the bill.
Democrats had proposed to impose on private companies to reimburse the government if the price of the drugs rise faster than inflation. The ruling allows for the cap to be placed on Medicare but not on the private marketplace, aide says"This is a major victory for the American people.
The bill includes roughly $64 billion for extending the Affordable Care Act healthcare premium subsidies and $369 on climate and energy initiatives over a ten-year period, per Senate Democrats. To pay for that, Democrats planned to raise $124 billion from IRS tax enforcement, $288 billion from prescription drug pricing reform, $313 billion through a 15% minimum corporate tax rate, and $73 billion from a 1% tax on stock buybacks, Politico reported.
The bells of doom ring louder.
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